The Canadian Institute for Health Information says health-care spending in Canada is projected to reach a new high in 2024.

The annual report released Thursday says total health spending is expected to hit $372 billion, or $9,054 per Canadian.

CIHI鈥檚 national analysis predicts expenditures will rise by 5.7 per cent in 2024, compared to 4.5 per cent in 2023 and 1.7 per cent in 2022.

This year鈥檚 health spending is estimated to represent 12.4 per cent of Canada鈥檚 gross domestic product. Excluding two years of the pandemic, it would be the highest ratio in the country鈥檚 history.

While it鈥檚 not unusual for health expenditures to outpace economic growth, the report says this could be the case for the next several years due to Canada鈥檚 growing population and its aging demographic.

Canada鈥檚 per capita spending on health care in 2022 was among the highest in the world, but still less than countries such as the United States and Sweden.

The report notes that the Canadian dental and pharmacare plans could push health-care spending even further as more people who previously couldn鈥檛 afford these services start using them.